CAC Document Upload – Have you heard about the Corporate Affairs Commission (CAC)? This is a regulatory body that was established to help regulate various corporations. Therefore, if you have a company, or maybe you’re thinking of starting one, then it is advisable to register it with the Corporate Affairs Commission (CAC) of Nigeria.
In this article, you will find all you need to know about the Corporate Affairs Commission (CAC) of Nigeria, their eligibility, and how to register your company on CAC. Registering a business name can take up to 1 week, or 2 weeks, depending on the workload of the CAC and other factors. Find out what you need to register your business name and company in this post. Dollar to Naira Rate
What is the CAC? And What Benefits Do I Stand to Gain When I Register?
CAC stands for Corporate Affairs Commission. It is a regulatory body created with the sole purpose of regulating the incorporation, running, and winding up of companies, business names, incorporated trustees, etc.
Registering for the CAC has numerous benefits some of which include:
- Provision of legal protection for your company and business name
- CAC helps to bring more trust and confidence from clients. Hence, it would be easier for new clients to find your business when you register on CAC.
- Registration can be done easily online. CAC Document Upload
NOTE: You do not require a layer to register your business name on CAC. However, if you want to register a company, then you will need the services of lawyer or any other accredited legal practitioner.
Eligibility Criteria for Company Registration on CAC
If you want to register your company in Nigeria, then you must first meet the following criteria:
- Company members must be between 2 and 50
- All members of the company must be above the age of 18
- The business venture must have a minimum share capital of N10,000 and above
- All members of the business enterprise must be of sound mind (mentally stable)
- All business enterprise must have the following documents for the registration process:
- Must present a notice containing the registered address of the company or business
- Must present an Article of Association and Memorandum
- Receipt of stamp duty payment
- Must present a statement of compliance by a lawyer.
How to Register Your Company with CAC
After confirming that you meet the necessary requirements to register your company, follow the procedures below to register your company with CAC: Jamb Result
- Check if the name you wish to register is currently available or not. Before registering your company, you must have first done a name search to check the availability of your preferred company name. Every company name on CAC must be a unique name.
- Make sure your lawyer has prepared the memorandum and articles of association. To do this, you must first submit the names of shareholders and first directors to your lawyer. The directors and shareholders must have no criminal record, and must also have a valid means of identification.
- Fill and submit the incorporation form from the CAC. Your lawyer or secretary can help you fill this form. The pre-registration form can be filled and submitted online. You are also expected to fill the Statement of Share Capital and Return of Allotment form (Form CAC 2). The following forms will also be given to you to fill; The Notice of Situation/Change of Registered Address form (Form CAC 3), The details of Director form (Form CAC 7), The Declaration of Compliance with the requirements of CAC. (Form CAC 4)
- Two directors of your company will be required to sign a form appointing someone as the new company secretary.
- Take the filled documents to the stamp duty office and get the documents stamped. NOTE: You will be required to make payment for the stamp duty to the FIRS.
- Submit the forms to CAC alongside the Memorandum and Articles of Association.
- You will receive your company’s Certificate of Incorporation/Registration after six weeks of submission.
- If you’re doing the Registration online, then scan and upload the signed copy of your pre-registration documents along side the following documents:
- Form CAC1.1
- Memorandum and Article of Association (MEMART).
- Valid means of identification for Director(s)/Subscriber(s) and Secretary.
- Evidence of payment to CAC (stamp duty).
What Next After Submitting the Applicable Forms?
After submitting or uploading the application forms to CAC, processing of your documents will commence immediately. All documents submitted will be certified.
To check the status of your application, go to the CAC website, click on your profile page, and your application status will be displayed on the screen.
If your application has been approved, your company registration number will be displayed on the screen, under the registration number column.
Once you’ve gotten your registration number, you can proceed to the CAC office to pick up your certificate. If you registered online, go with the original copies of the documents you uploaded for verification.
Once that is done, your certificate of incorporation will be generated, and an automatic tax identification number (TIN) will be issued and sent to your company’s email address. Pounds to Naira
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